Central Banking

UAE delays cheque clearing system for tests

The Central Bank of the United Arab Emirates has said at least 90 per cent of UAE banks are ready to implement the new system of cheque clearing that is expected to go live early next year.

The system had been delayed to undergo more rigorous trial runs, officials told Gulf News.

"Most banks are ready with their systems but a lot of tests are being conducted to ensure it is successful," a central bank official told Gulf News.

The new system, the Image Cheque Clearing System (ICCS) was scheduled

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